New recipients of early-age pension exceeded 100,000 for the first time last year.

The number of new early-age pensioners exceeded 100,000 for the first time last year, indicating that more people received their pensions ahead of time at the risk of losses.

According to the data received by Rep. Park Hee-seung of the Democratic Party of Korea, 101,385 new recipients of the early old age pension were born in 1954 to 1963.

Compared with 53,22 in 2022, the number of new recipients exceeded 100,000 for the first time on the second consecutive year of increases.

By the first half of this year, 45,555 baby boomers, nearly 40% of last year, received early-age pensions.

The Early Old Age Pension is a system that receives pensions one to five years earlier than the legal payment period, and the pension amount is cut by 6% per year for each year of receipt a year earlier.

Representative Park pointed out that since last year, the number of baby boomers who receive the old-age pension ahead of time has been increasing rapidly, and that measures are needed to prevent poverty in old age.